2716 Alderwood Ave · Baltimore Highlands, MD 21227

$199,900

5 bd · 2.0 ba · 1,616 sqft · SingleFamily public records · 14 Days on market

Built 1954 10,868 sqft lot $124/sqft · 46% below area Est $369k · 46% under

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +26.9/30.0
• ARV discount +15.0/15.0
• DSCR +9.3/10.0
• 1% rule +7.3/10.0
• Livability +4.0/5.0
• Rent growth +2.8/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this Cape Cod home in the neighborhood of Alderwood Park. Situated on an expansive lot of approximately 10,868 square feet, this residence features a brick and vinyl siding exterior, blending classic architecture with modern living. Venture inside to find a living room with tray ceiling, five bedrooms, two full bathrooms, and a country kitchen equipped with wood cabinetry, granite countertops, and appliances - a great space for culinary enthusiasts. The unfinished basement offers endless possibilities for customization, whether you envision a recreation room, additional storage or a workshop. Outside, the front and backyards provide a perfect canvas for gardening or outdoor activities. The property is a five-minute drive to supermarkets, shopping centers, and restaurants. Don't miss the opportunity to make this your new home!

Key facts

• Country kitchen
• Front and backyards
• Cape cod home

Tags

• CAPE COD HOME
• BRICK AND VINYL SIDING
• COUNTRY KITCHEN
• GRANITE COUNTERTOPS
• UNFINISHED BASEMENT
• FRONT AND BACKYARDS

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $552 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).

Location & tenants

• Location reads 79/100 on livability (#54 in MD, #1,984 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, housing A+; Watch: schools C-, crime D-.
• Baltimore County Public Schools (suburban): math 15% / reading 34% proficiency, ranked #11 of 24 in MD (top 46%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+1.2%/yr); 99 active listings in the ZIP; solid renter incomes; 1,511 units permitted in Baltimore County in 2024 (643 in 5+ unit buildings).
• This rent runs 34% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Baltimore County population projected at +12% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 29y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,900

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.23% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.84%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $369,090
• List price: $199,900
• Delta: -45.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2813 Michigan Ave	0.42mi	4/3.0 (-1)	1,607 (-1%)	19mo	$372,000	$231	54
331 2nd Ave	0.65mi	5/2.0	1,516 (-6%)	10mo	$355,000	$234	51
3215 Magnolia Ave	0.44mi	4/1.5 (-1)	1,522 (-6%)	23mo	$279,125	$183	43
318 4th Ave	0.65mi	4/2.5 (-1)	1,456 (-10%)	11mo	$318,500	$219	37
2913 Illinois Ave	0.75mi	4/2.0 (-1)	1,838 (+14%)	4mo	$367,500	$200	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 1.17% rent growth · sell at horizon

5-year hold

• IRR: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,605
• Equity at exit: $29,806

10-year hold

• IRR: 6.9%
• Equity multiple: 1.47×
• Total profit: $26,533
• Equity at exit: $17,284

Cash invested: $55,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21227

• Rents YoY: 1.2%
• Active inventory: 99
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $2,450 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$251 /mo · $3,018/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $552

Break-even live

Break-even rent $1,751

Max offer price $199,900

Occupancy floor 72%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-05-05
   status Pending 848-char remark

   Show marketing remark (848 chars)

   Welcome to this Cape Cod home in the neighborhood of Alderwood Park. Situated on an expansive lot of approximately 10,868 square feet, this residence features a brick and vinyl siding exterior, blending classic architecture with modern living. Venture inside to find a living room with tray ceiling, five bedrooms, two full bathrooms, and a country kitchen equipped with wood cabinetry, granite countertops, and appliances - a great space for culinary enthusiasts. The unfinished basement offers endless possibilities for customization, whether you envision a recreation room, additional storage or a workshop. Outside, the front and backyards provide a perfect canvas for gardening or outdoor activities. The property is a five-minute drive to supermarkets, shopping centers, and restaurants. Don't miss the opportunity to make this your new home!

2. 2026-04-21
   listed $199,900 Active 848-char remark

   Show marketing remark (848 chars)

   Welcome to this Cape Cod home in the neighborhood of Alderwood Park. Situated on an expansive lot of approximately 10,868 square feet, this residence features a brick and vinyl siding exterior, blending classic architecture with modern living. Venture inside to find a living room with tray ceiling, five bedrooms, two full bathrooms, and a country kitchen equipped with wood cabinetry, granite countertops, and appliances - a great space for culinary enthusiasts. The unfinished basement offers endless possibilities for customization, whether you envision a recreation room, additional storage or a workshop. Outside, the front and backyards provide a perfect canvas for gardening or outdoor activities. The property is a five-minute drive to supermarkets, shopping centers, and restaurants. Don't miss the opportunity to make this your new home!

3. 2009-10-24
   historical Withdrawn
4. 2009-10-23
   historical
5. 2009-05-18
   price
6. 2009-04-05
   price
7. 2009-03-03
   price
8. 2009-02-06
   price
9. 2009-01-17
   listed
10. 2009-01-17
    listed $255,900
11. 2007-02-23
    soldstatus $275,000
12. 2006-12-31
    historical
13. 2006-10-20
    listed
14. 1998-06-01
    soldstatus $80,000
15. 1998-05-29
    soldstatus $80,000
16. 1998-04-05
    historical
17. 1997-07-29
    listed $80,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $3,018 · $251/mo
• Projected year-2 tax: $3,018 · $251/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 5 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,399
• − Mortgage interest: −$11,198
• − Property taxes: −$3,018
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − Depreciation: −$5,815
• Taxable income: $3,665
• Est. tax owed @ 24.0%: −$880
• After-tax cash flow: $5,749/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Baltimore County Public Schools
• NCES district ID: 2400120
• Math proficiency: 15% ▼ -16.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $66,746
• Composite: 23.17/100
• National rank: #7948
• State rank: #11 of 24 in MD

Livability — Baltimore Highlands

• Score: 79/100
• State rank: #54
• US rank: #1984

Category grades

Amenities A+ Commute A+ Cost of living B- Crime D- Employment C+ Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Baltimore Highlands, MD
• County: Baltimore County · 769,527 people
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 34,907
• Household income: $85,986
• Rent vs Own: 35.3% rent · 64.7% own
• Severe rent burden: 930.0

Population outlook (Baltimore County) Hauer SSP2

• Today (2025): 885,518 people
• By 2030: 909,272 · +2.7%
• By 2040: 951,547 · +7.5%
• By 2050: 990,955 · +11.9%
• By 2075: 1,086,411 · +22.7%
• By 2100: 1,135,078 · +28.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 61% Black 16% Hispanic / Latino 12% Two or more races 7% Asian 4%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 2% Italian 2% Slovak 2%
• Foreign-born: 13% · Canada, Philippines, China
• Languages at home: 83% English-only · Spanish 10% Other Asian/Pacific 2% Other Indo-European 2%

Political lean MEDSL · Baltimore

• 2024 margin: Strong D (+24.5) · D 61.0% · R 36.5% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: 14.6pp · 2024: 24.5pp
• All cycles: 2024: D+24.5 2020: D+27.0 2016: D+17.4 2012: D+16.4 2008: D+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -294.07%
• Current HPI: 281.9628
• Rent YoY: ▲ 1.17%
• Metro: Baltimore-Columbia-Towson, MD
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+149.9% since first listed

17 events — show timeline

• 2026-05-05 Pending — BRIGHT MLS
• 2026-04-21 Listed $199,900 BRIGHT MLS
• 2009-10-24 Delisted — MRIS
• 2009-10-23 Listing Removed — BRIGHT MLS
• 2009-05-18 Price Changed — MRIS
• 2009-04-05 Price Changed — MRIS
• 2009-03-03 Price Changed — MRIS
• 2009-02-06 Price Changed — MRIS
• 2009-01-17 Listed — MRIS
• 2009-01-17 Listed $255,900 BRIGHT MLS
• 2007-02-23 Sold (Public Records) $275,000 Public Records
• 2006-12-31 Delisted — MRIS
• 2006-10-20 Listed — MRIS
• 1998-06-01 Sold (Public Records) $80,000 Public Records
• 1998-05-29 Sold (MLS) $80,000 MRIS
• 1998-04-05 Delisted — MRIS
• 1997-07-29 Listed $80,000 MRIS

Property tax history

-0.5%/yr

Latest (2025): $3,018 · +6.6% YoY. Source: county tax records.